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One in four auto loans are now nonprime or subprime

Published: September 16, 2012 by admin

Loans to customers in the nonprime, subprime and deep-subprime credit risk tiers accounted for more than one in four new vehicle loans in Q2 2012. With 25.41 percent of all new vehicle loans opened by customers in the nonprime, subprime and deep-subprime credit risk tiers, loans for this group were up 14 percent when compared with Q2 2011.

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Source: Experian Automotive’s quarterly credit trend analysis

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